Many merchants are not aware that all companies who accept, process, or store credit card data need to comply with the Payment Card Industry [known as PCI] security standards.
PCI specifies how to protect the payment transaction details and the cardholder data against potential theft and identity abuse leading to financial theft. Proof that a merchant is securing the payment is no longer an option.
PCI standard must be validated by Sept. 30, 2007!!
This security standard environment applies to:
- Card-present
- Card-not-present
- E-Commerce and
- Mail order/telephone order [MO/TO]
BankCard Central merchants have the advantage of getting their business validated to the PCI security standard with relatively little pain. If you need more information on PCI Compliance and answers to potential questions please contact us 800-331-8882.
BCC has expert knowledge of what PCI validation a merchant has to meet based on annual sales volume. BCC, as the acquiring ISO, is held responsible for this proof.
Failure by merchants, or service providers, to prove the security standard can result in a fine starting at $50,000 for the first violation. Small to medium sized businesses can rarely survive this financial impact.
Research shows that card holders want the assurance their personal credit and identity is protected. In return, they usually purchase more - buying more often and increasing the individual purchase amount too.
Payment Card Industry (PCI) Compliance was created by the major credit card companies (Visa, MasterCard, American Express, Discover and JCB) to protect cardholders from increasing security breaches and identity theft.